Costing Archives

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Solution

35. When the completion stage of a contract is less than $$\frac{1}{4},$$ the total expenditure on the contract is transferred to . . . . . . . . account.

Work-in-progress

Profit and loss account

Miscellaneous account

None of these

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the completion stage of a contract is less than $$\frac{1}{4},$$ the total expenditure on the contract is transferred to . . . . . . . . account.

36. Match the following. List-I (Variances) List-II (Formulae) a. MCV 1. SP (RSQ – AQ) b. MPV 2. SP (SQ – AQ) c. MUV 3. AQ consumed (SP – AP) d. MMV 4. SC – AC

a-4, b-3, c-2, d-1

a-2, b-1, c-4, d-3

a-4, b-1, c-2, d-3

a-3, b-4, c-2, d-1

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consumed (SP – AP) d. MMV 4. SC – AC" class="read-more button" href="https://exam.pscnotes.com/mcq/match-the-following-list-i-variances-list-ii-formulae-a-mcv-1-sp-rsq-aq-b-mpv-2-sp-sq-aq-c-muv-3-aq-consumed-sp-ap-d-mmv-4-sc-ac/#more-55859">Detailed Solution

37. Product which requires large amount of resources, but incur low per unit cost is classified as

product under costing

product over costing

expected under cost

expected over cost

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38. Cost of sales plus profit is _______.

selling price

value of finished product

value of goods produced

value of stocks

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213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube class="read-more button" href="https://exam.pscnotes.com/mcq/cost-of-sales-plus-profit-is-_______/#more-55827">Detailed Solution

39. Departmentalization of overhead is known as ________.

primary distribution

secondary distribution

absorption

allocation

Detailed

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Solution

40. The basis for the payment of cash by contractee under contract is ________.

work certified

work uncertified

contract cost

value of plant used in the contract

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payment of cash by contractee under contract is ________." class="read-more button" href="https://exam.pscnotes.com/mcq/the-basis-for-the-payment-of-cash-by-contractee-under-contract-is-________/#more-55814">Detailed Solution

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